Seeking Advice: Should I Open a Savings Account at Utkarsh Small Finance Bank Before FD?

[Maitri Maniya]

I’m planning to do a Fixed Deposit at Utkarsh Small Finance Bank, but the bank executive is suggesting I open a savings account first. They mentioned that the minimum average balance required is ₹5000 quarterly, but no charges will be applied. I don’t need a debit card or any additional services.

Has anyone had experience with this? Should I open the savings account before the FD, or is it better to skip it?

 

[TaxWiser]

I’m planning to do a Fixed Deposit at Utkarsh Small Finance Bank, but the bank executive is suggesting I open a savings account first. They mentioned that the minimum average balance required is ₹5000 quarterly, but no charges will be applied. I don’t need a debit card or any additional services.

Has anyone had experience with this? Should I open the savings account before the FD, or is it better to skip it?

You should consider Stable Money, Smallcase, Airtel, Angel One etc. apps for the same.

 

[shivtej]

I’m planning to do a Fixed Deposit at Utkarsh Small Finance Bank, but the bank executive is suggesting I open a savings account first. They mentioned that the minimum average balance required is ₹5000 quarterly, but no charges will be applied. I don’t need a debit card or any additional services.

Has anyone had experience with this? Should I open the savings account before the FD, or is it better to skip it?

I have done fd in this bank without opening a savings account through stablemoney, as @TaxWiser has mentioned. No need to open account, they just want to complete their targets.